"Commercial Banking and Finance"

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…concordat revised to deal with bank holding companies registered outside the country of operation. Another example is the Johnson Matthey Bankers who gave excessive loans to 2 doubtful customers. The bank supervisor was over-reliant on trust and the co-op of bank management. The bank was luckily rescued, but the depositors were penalised. New supervisor-auditor relationship was formed and also a new bank supervision law was passed. The UK deposit insurance limit was raised to 20k pounds.